Standard & Poor’s hints at possible Japan downgrade

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Standard & Poor’s hints at possible Japan downgrade

Rating agency Standard & Poor’s said yesterday there is more than a one-third chance that it will downgrade Japan’s sovereign ratings because of uncertainty about whether the government’s push to revive growth and end deflation will succeed.

“The continuing prospect of a downgrade arises from risks associated with recent government initiatives and uncertainty of their success,” S&P said in a report.

“Japanese Prime Minister Shinzo Abe’s plan to lift Japan out of deflation and spur economic expansion - known as “Abenomics” - has three pillars: bold monetary easing, fiscal efforts to spur growth and a strategy to induce private sector investment,” it said.

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